Experts in healthcare payment and collections are urging healthcare providers to start thinking more like retailers to boost patient net collection rates and operating income at a time when high-deductible health plans (HDHPs) have become the norm and patient financial responsibilities have reached record levels. Providers, however, have been hesitant to adopt a system in which patients would keep a card-on-file to take care of their out of pocket expenses. Why?

Experts in healthcare payment and collections are urging healthcare providers to start thinking more like retailers to boost patient net collection rates and operating income at a time when high-deductible health plans (HDHPs) have become the norm and patient financial responsibilities have reached record levels. Providers, however, have been hesitant to adopt a system in which patients would keep a card-on-file to take care of their out of pocket expenses. Why?

If you’ve been on the fence about choosing or switching patient revenue cycle management partners, consider this: A recent analysis of Health iPASS client return on investment (ROI) has revealed that medical practices using our patient revenue cycle solution…

With the enactment of the No Surprises Act, medical practices across the country are grappling with confusion and uncertainty surrounding the new regulations. When the No Surprises Act took effect on January 1, 2022, many providers were caught off guard. While the changes had been discussed and many were aware of the impending announcement, the exact details were kept under wraps until news broke. And once word spread, reactions from those in the industry was mixed. The regulation’s vague language has led to confusion, with timelines and details often hard to decipher.

Healthcare costs are rising across the board. Government spending on healthcare in the United States increased by almost 10 percent in 2020 to $4.1 trillion, most likely due to funds allocated to managing the COVID-19 pandemic. For patients, high-deductible plans are common occurrence and out-of-pocket costs are estimated to reach more than $491 billion by 2025. According to a report from the Kaiser Family Foundation, approximately 100 million Americans have some form of healthcare-related debt. Numbers like this give insight into the financial state of many Americans.